ChemChina Buys Kenya’s first Ksh.1.2 billion Crude Oil

ChemChina Buys Kenya’s first Ksh.1.2 billion Crude Oil

China National Chemical Corporation (ChemChina) has been picked by Kenya to purchase its first batch of crude oil export.

“ChemChina UK LTd was selected following a competitive tender process… an invitation to bid was issued to prospective buyers on 26th July 2019,” said a statement issued by the Kenyan Government, together with Tullow Oil and its joint venture partners.

Early this month, President Uhuru Kenyatta said the country had concluded the first deal with 200,000 barrels at a price of KSh1.2 billion.

“We are now an oil exporter. Our first deal was concluded this afternoon with 200,000 barrels at a price of 12 million US dollars. So, I think we have started the journey and it is up to us to ensure that those resources are put to the best use to make our country both prosperous and to ensure we eliminate poverty,” President Uhuru said.

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